K2M Group (NASDAQ:KTWO) had its price objective raised by Needham & Company LLC from $20.00 to $23.00 in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the medical device company’s stock.

Other equities research analysts have also recently issued research reports about the company. Piper Jaffray Companies reissued an overweight rating and issued a $28.00 price target on shares of K2M Group in a research note on Tuesday, October 10th. UBS Group reissued a buy rating and issued a $24.00 price target (down previously from $26.00) on shares of K2M Group in a research note on Tuesday, October 10th. BidaskClub cut K2M Group from a buy rating to a hold rating in a research note on Wednesday, December 6th. William Blair reissued an outperform rating on shares of K2M Group in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised K2M Group from a sell rating to a hold rating in a research note on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $24.50.

Shares of K2M Group (NASDAQ KTWO) traded down $0.32 on Tuesday, reaching $20.25. The company’s stock had a trading volume of 326,280 shares, compared to its average volume of 412,764. K2M Group has a fifty-two week low of $16.44 and a fifty-two week high of $25.99. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29. The firm has a market cap of $877.40, a PE ratio of -21.09 and a beta of 1.34.

K2M Group (NASDAQ:KTWO) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm had revenue of $62.65 million during the quarter, compared to analyst estimates of $62.69 million. During the same period in the previous year, the company earned ($0.19) EPS. K2M Group’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts forecast that K2M Group will post -0.85 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of KTWO. Macquarie Group Ltd. grew its stake in K2M Group by 0.3% during the second quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock worth $4,888,000 after purchasing an additional 581 shares during the period. Wells Fargo & Company MN grew its stake in K2M Group by 0.9% during the second quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock worth $1,542,000 after purchasing an additional 590 shares during the period. Legal & General Group Plc grew its stake in K2M Group by 41.4% during the second quarter. Legal & General Group Plc now owns 9,561 shares of the medical device company’s stock worth $232,000 after purchasing an additional 2,798 shares during the period. Principal Financial Group Inc. grew its stake in K2M Group by 0.6% during the second quarter. Principal Financial Group Inc. now owns 461,922 shares of the medical device company’s stock worth $11,252,000 after purchasing an additional 2,942 shares during the period. Finally, Gabelli Funds LLC grew its stake in K2M Group by 28.0% during the third quarter. Gabelli Funds LLC now owns 18,300 shares of the medical device company’s stock worth $388,000 after purchasing an additional 4,000 shares during the period. 97.95% of the stock is owned by institutional investors.

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K2M Group Company Profile

K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine and minimally invasive technologies and techniques. The Company’s solutions are focused on achieving three-dimensional Total Body Balance. Its spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor.

Analyst Recommendations for K2M Group (NASDAQ:KTWO)

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